The US Securities and Exchange Commission (SEC) withdrew its appeal in the case against Ripple Labs, thereby actually completing it. This was stated by CEO of Brad Garlinghaus.
In the video message, CEO Ripple Labs noted that this case was doomed to failure from the very beginning. He called the lawsuit against the company “the first blow to the crypto industry.”
At the end of the CEO, the company expressed gratitude to everyone who supported the company in this trial. At the same time, he also noted that he is hoping for the preservation of the new US administration to support innovation in general and the cryptocurrency sphere in particular.
The XRP course jumped by more than 10% against the background of the news. The price of the asset has reached $ 2.59, and is now trying to gain a foothold in this range:
Information that the SEC plans to close and this case also appeared earlier this month. She was shared by the journalist Fox Business Eleanor Terrett.
As she said, the catch arose in the fact that Ripple Labs lawyers managed to significantly reduce the amount of the fine, after which the regulator appealed. This prevented the closing of the case.
Prior to this, the SEC withdrew a number of other claims against crypto companies. The change of the commission of the commission occurred after the resignation of Gary Gensler. Instead, the acting head was appointed commissioner Mark Wedu.
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Source: Cryptocurrency
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